Bitcoin on Drug Trade

[Babylon]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I think this is possible because it would be easier and safer for them to do their transactions if they will use cryptocurrency. They wouldn't need to be cautious and scared if police are watching them. Well it's quite disappointing that cryptocurrency could be used to do bad things.

[molsewid]

Of course bitcoin can be used into illegal things since bitcoin is completely anonymous where no one see where it came from and no one will know whats that payment for we are now in new generation that technology runs everything how come on internet where also from dark web where there are lots of illegal drug users and sellers.

[kuyaJ]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

some drug user use bitcoin to buy drugs, I read some site or page that in market that you can use bitcoin as value so they have an discount thats why too many people buy on that market and also it has an easy transaction so it is hard to manipulate by government.

[Sithara007]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

some drug user use bitcoin to buy drugs, I read some site or page that in market that you can use bitcoin as value so they have an discount thats why too many people buy on that market and also it has an easy transaction so it is hard to manipulate by government.

Discount is not the primary reason. In most cases, drugs are cheaper on the street than in the dark market. But the quality is usually better when you purchase the stuff from dark market. Also, the safety issue is there.

[Gotumoot]

There is a lot of possibility that it does. I guess there is no way to track those but o hope soon enough they'll find solution about it.

[AmiranAbdul]

I think that some people use this method for trade in cigarettes, because bitcoin is anonymous and has the property to rapidly raise the price. The deal thus becomes more profitable for them.

[Ginosaur15]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I didn't think about this before and I think it is possible to use it on drug transactions. Anyway not only bitcoin is use by drug sindicate because they'll always finds a way to deal drugs.

[adnet]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I  think it should be  stopped anyway!

[SoulEaterRR]

Bitcoin is not to blame for driving drugs and using it as a currency. Drugs have long existed and are selling them with the help of any currencies or those things that are of great value.

[SugoiSenpai]

Yes it can be used in drug cartels, specially that it is more convenient and the dealers can stay anonymous when transacting online. Although bitcoin is used by Drug cartels it is not the Bitcoins fault, it is merely an online currency that provides a more convenient way of transaction, i believe that even if btc never existed they would still transact, it is just that btc for them is the most fastest and safest way to not be caught by the police.

[memyselfandi]

Yes it is possible specially Bitcoins is now world wide. But I wish it will not come to the point that bitcoin is related into illegal activities. Activities that will hurt somebody. Lets not abuse this kind of opportunity because we did not know until when this bitcoin will exist.

[BigTeeths]

It can really happen. Drug traders are pursued by authorities so they will use an alternative just to continue their illegal activities. This is actually not surprising.

[carlisle1]

Yes it is possible specially Bitcoins is now world wide. But I wish it will not come to the point that bitcoin is related into illegal activities. Activities that will hurt somebody. Lets not abuse this kind of opportunity because we did not know until when this bitcoin will exist.

its the users responsibilities mate and we cant avoid things like this to happen even criminals is more advanced than regular bitcoiners so just be prepared just incase things happen and always remember that bitcoin is not exempted since its accepted as a currency it will use in any transaction which involved money.

[Sithara007]

It can really happen. Drug traders are pursued by authorities so they will use an alternative just to continue their illegal activities. This is actually not surprising.

While using the dark markets, there are no intermediaries between the drug seller and the drug user. But that is not the case when you purchase drugs from the street. Multiple intermediaries are involved.

[bhabygrim]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I think this is possible, because transactions through cryptocurrency leave no trace, it's safer for drug syndicates to transact through it. It's faster and safer so I think it's more convenient for them to use bitcoin for most of their transactions. Compared to using banks or transferring fiat money from people to people, they would avoid being caught.

[bbcolex]

Bitcoin now is not that safe for dark trade like drugs. Better use other crypto like dash or monero , that's why dark web prefer now other alt coin than BTC cause it can be easily tracked!

[matuson]

Bitcoin is the usual currency. Why not use it to purchase illegal goods? Before bitcoin it was impossible to buy drugs? Or nobody can do it for any currency in the world? Bitcoin is only a measure of the price, and everything else depends on people.

[gaming-stars]

In Germany, there was the founder of shiny flakes arrested two years or so ago. They found a few hundred kilos of drugs in his room at his parent's house.

He was 20 years or so and was sentenced to 6 years or something like that. He will be out next year.

I read that the police knows he has hidden Bitcoins worth millions but they can not find it. All of us know that Bitcoin is worth 5 times more now than two years ago...

He is a multi-millionaire and probably made more money with holding Bitcoins than with drug trading.

I am sure he is not the only guy...

Drug cartels for sure use Bitcoins to hide and transfer money because of all the advantages!

Al Capone would have Bitcoins if he had lived now :-)))

[wowanstrong]

Of course, de bitcoin is used in the drug trade as it is a currency, but elites can use other methods of payment. Drug trafficking has appeared much earlier bitcoin and it will exist even if bitcoin disappears.

[Douglasyukanov]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

it may happen, it is possible about the use of bitcoin in drug transactions, because bitcoin is a currency that can already be used in various countries and safe to use.
in the meantime, there is no standard rule on the use of bitcoin, there has been no state government intervention about bitcoin and perhaps some countries are studying about bitcoin in order to set rules of use.